Mortgage & Financial News

Come here to read about what is going on in the world of Mortgages and what financial information is affecting the mortgage markets.

Found 313 blog entries about Mortgage & Financial News.

With the tight rental market in Boulder, instead of fully relaxing during the upcoming family weekend at CU-Boulder, many parents face signing a high-rent lease for their child's off-campus housing next year.

But it doesn’t have to be this way.

Parents can get smart about their child’s college housing and offset the cost of college with a ‘Kiddie Condo Loan,’ says Duane Duggan on the RE/MAX of Boulder podcast with his guest Jessica Shanahan, loan officer from Premier Lending.

What’s a ‘Kiddie Condo Loan’?

Basically, instead of paying rent, you help your child buy a home.

“It doesn’t have to be a condo, it can be any kind of primary residence,” says Shanahan.

“If your child is coming to CU-Boulder and you want to invest in this

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The following article is a summary from the book, “Realtor for Life,” written by Duane Duggan.

When interest rates drop, you might wonder whether or not it makes any sense to refinance.  Unfortunately, there are many different “rules of thumb” being directed to the public to answer the question, “When is the right time to refinance?”

One of these “rules of thumb” says that if your current mortgage loan is less than two years old, you should not refinance. Generally, this thought comes from the fact that you have just paid closing costs and when you refinance, there will be another set of closing costs. 

Another common “rule” used to determine the feasibility of refinancing is that there should be at least a 2% spread between the old interest

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The following article is a summary of content from the book, “Realtor for Life,” written by RE/MAX of Boulder Realtor and Author Duane Duggan.

Buying a rental property when a baby is born is a great way to save for college. If you buy a rental property with a 15-year mortgage when your child is born, it will be paid off and you’ll have three extra years to decide how to use this investment by the time your child is 18 and ready to go to college.

The property could be sold, the taxes paid, and gains from the sale used as cash for college. Or, you could refinance it to pull cash out -- tax-free -- and use the cash for college. You could even keep the property free and clear to rent out, and just use the monthly cash flow to pay for college

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Colorado’s booming construction industry can’t find workers fast enough.

Ten years after construction workers were laid off in droves during the 2007-2009 great recession, the situation has flipped. Today, Colorado is faced with a full-on population boom moving full steam ahead, which is fueling a fast real estate market and lack of supply of housing. Skilled craftsman are needed in droves to build those houses and highways.

According to a report by a coalition of Colorado specialty contractors known as the MEP Alliance, there will be more than 56,000 new constructions jobs by 2025 –- a 38 percent increase over today. Over 42,000 of the jobs will be in specialty trades, and 50% of these jobs will be added by 2018.

Retiring baby boomers will

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The U.S. homeownership rate fell to a 50-year low in the second quarter of 2016, much of which was attributable to Millennials staying out of the market. While some have contended that Millennials are not interested in homeownership, recent studies have shown that 80 percent of people still consider it to be part of the American Dream, and 90 percent stated that they want to own a home in the future.

If you are a Millennial and have overcome numerous barriers likely facing you, including crippling student debt, lack of ability to accumulate a down payment, low inventory and high prices, and lack of mortgage availability, why would you want to buy a home versus investing in the stock market, for example? While diversified investments is, of course, a

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I will be posting excerpts on mortgage acceleration from my book REALTOR® for Life. You can watch and subscribe to the RE/MAX of Boulder podcast channel for behind the scenes content.

1. Create your own amortization schedule: to pay off the balance of a loan in the desired number of years on a $100,000 Loan at 6% you could pay the loan off according to the following schedule:

 

2.  Bi-weekly mortgage payments program: The way that this program works is that when you make a payment every two weeks when you get a pay check, you put enough in so that it would be equivalent to making one extra payment a year. This program will usually pay off a 30-year mortgage about 7 years sooner. Some lenders offer a bi-weekly mortgage payment plan. You can

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Over the next few weeks, I will be posting excerpts on mortgage acceleration from my book REALTOR® for Life. You can watch and subscribe to the RE/MAX of Boulder podcast channel for behind the scenes content.

The article below was also published in the At Home section of the Boulder Daily Camera

In the final stage of buying a home, while sitting at the closing table, it is always a bit of a joke when the happy home buyers are asked to sign the loan disclosures showing how much interest they will pay over the life of their 30-year loan. Oftentimes they say things like “Oh, I’ll be dead by then anyway”, or “Wow, I had no idea!”.

Closing on your home creates a perfect opportunity to put a system in place to build equity and real estate wealth by

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The following article is based on the RE/MAX of Boulder video podcast with Boulder County Assessor Cynthia Braddock. The goal of the conversation and following article is to help build a bridge of communication and understanding between the Boulder County Assessor’s Office, REALTORS® and the general public.

This May Day, there’s one thing every property owner in Boulder County can depend on: receiving a new assessed property value.

“Because 2017 is an odd numbered year, State statute requires that every property in Boulder County be evaluated for ‘assessed’ value,” says Cynthia Braddock, Boulder County Assessor.

Notices of assessed value will go out countywide on May 1. The new assessed value is based on past real estate market sales of

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When I talk with first time real estate buyers the number one reason they don’t buy a home of their own is the hurdle of the down payment. This article will explain several ways that a new home can be purchased with much smaller down payments than the typical 20% and some ways you might be able to raise the funds for your down payment.

1. The Traditional. Ask your parents or other relatives for a gift of cash to go toward your down payment. Worst thing that can happen is they say ‘No’, which is why there are more suggestions below.

2. The Seems Obvious. Save your money. No Starbuck’s Carmel Frappuccino, no cable or satellite TV, shop for cheaper car insurance, keep the entertainment budget low and strict, forget about vacations. You get the idea.

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As predicted, the Federal Reserve raised interest rates in December, and conventional mortgage rates have increased from 3.625 percent on Nov. 4 to 4.375 percent as of the writing of this article (an increase of 0.75 percentage points). In 2017, economists predict a couple more interest-rate increases to the Fed funds rate, which will likely spur increases in conventional mortgage rates as well.

To a homebuyer in the Boulder Valley, what do these projected mortgage-rate increases actually mean? The effect may be bigger than you would think.

The 1 Percent = 10 Percent Rule

As a rule of thumb, for each 1 percent increase in mortgage rates, your buying power decreases about 10 percent. To understand the import of this, it is helpful to use a couple

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